Mississippi: The Least Expensive State in the U.S.
Mississippi
With the overall cost of living on a steady inclined, there are many states that are becoming increasingly expensive to live in. However, there are still some that provide a haven from the cruelty of the financial-driven world.
Mississippi is one of those states, in fact, across the board, it is the cheapest state in the country to live in. But affordable living comes with a price of its own.
Population
First off, Mississippi is home to over 2.95 million people, as of 2022. Jackson, being the capital city of the state, has the most population.
Cost of Living
Mississippi has the lowest cost of living in the United States. With a cost-of-living index of 83.3, expenses are nearly 17% less than the national average.
Cost of Living: Defined
The Cost-of-living index measures the average cost of living in the U.S. as a baseline of 100—over 100 means a high COL and under 100 means less than the national average.
Housing Costs: Ownership
Mississippi's housing costs are the lowest in the nation. Home prices range from $32,000 to $240,000 depending on the city, with an average of $162,292.
Housing costs vary based on neighborhoods, personal credit scores and current interest rates.
